Sun, Feb 03, 2013 - Page 8 News List

EDITORIAL: More economic challenges to come

Third is the challenge of developing Taiwan into a major offshore center of trade for the Chinese yuan, while safeguarding the nation’s financial stability.

In the short term, the central bank needs to ensure a smooth implementation of direct currency exchanges and capital flows across the Taiwan Strait.

In the longer term, the central bank will need to talk with its Chinese counterpart about the establishment of a cross-strait currency swap mechanism before adding yuan-based assets to Taiwan’s foreign exchange reserves and serving as a backstop against regional economic turmoil.

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